📄️ Overview
The Technical Manual is intended for advanced users, keepers, and Oracle data providers that would like to gain an in-depth understanding of the inner workings of the protocol.
📄️ Statutes
Statutes are a set of mutable parameters that determine the behaviour of Circuit protocol. They are effectively the global state variables of the protocol.
📄️ Collateral Vaults
Collateral vaults are custom singletons that can be created permissionlessly by anyone.
📄️ Liquidation
When a collateral vault liquidation is triggered, owner operations can no longer be performed on the vault and Stability Fees stop accruing on the vault's outstanding debt . In other words, triggering a liquidation freezes the debt, and the borrower is relieved of their obligations. In return, the protocol seizes the collateral and auctions it off on-chain in an attempt to recover the debt from third parties.
📄️ Savings Vaults
Savings vaults are BYC CAT singletons with inner puzzle savingsvault.clsp. They can be permissionlessly created by anyone to earn yield on Bytecash.
📄️ Treasury
The Treasury is a set of BYC CAT singletons with inner puzzle treasury.clsp.
📄️ Surplus Auction
Surplus Auction is a CRT CAT with surplusauction.clsp puzzle as its inner puzzle. The inner puzzle turns the Surplus Auction into a singleton.
📄️ Recharge Auction
A Recharge Auction is a BYC CAT singleton with rechargeauction.clsp puzzle as inner puzzle.
📄️ Announcers
Announcers are custom singleton coins deployed and owned by data providers. Their purpose is to make the XCH/USD market price available on-chain. This XCH/USD market price is referred to as the Announcer Price.
📄️ Announcer Registry
The Announcer Registry, or Registry for short, is a custom singleton that approved Announcers can register with. The Registry keeps track of credits Announcers receive for Statutes Price updates. Announcers can periodically claim Rewards from the Registry in exchange for credits. Rewards are in the form of CRT tokens that are minted by the Registry.
📄️ Price Oracle
The Price Oracle, or Oracle for short, is a standard singleton with inner puzzle oracle.clsp.
📄️ Governance
Governance coins are CRT CAT singletons with the governance.clsp puzzle as their inner puzzle. Governance coins are created from standard CRT coins on an ad hoc basis.
📄️ BYC Tail
The BYC tail is a TAIL program that determines under what conditions Bytecash tokens may be issued or melted. The BYC tail does not allow for minting.
📄️ CRT Tail
The CRT tail is a TAIL program that determines under what conditions CRT tokens may be issued or melted. The CRT tail does not allow for minting.
🗃️ Advanced Topics
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